JBS purchase unit of Cargill pigs for $ 1.45 bi

JBS, the world's largest meat producer, announced on Wednesday the purchase of the unit of Cargill's pigs in the United States for 1.45 billion dollars, debt-free, within the strategy of growing into products with higher added value and broadening the customer base.
This is the second large acquisition by the JBS in about 10 days. On 21 June, the company signed to buy the Moy Park, unit of chicken and processed foods in Europe that belonged to Marfrig, Brazilian for about 1.5 billion dollars.
Last week, during a teleconference to comment on the purchase of Moy Park, the ceo of JBS, Wesley Batista, said the company did not intend to carry out new acquisitions in the short term.
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In fact on Wednesday, JBS said the Cargill value will be paid in cash and in money.
"This operation is in line with JBS's long-term strategy of growth in products with higher added value, expanding the customer base, both in the domestic market and exports," according to the company.
The purchase includes two meat processing factories in Ottumwa, Iowa, and in Beardstown, Illinois; five feed mills in Missouri, Arkansas, Iowa and Texas; and four pig farms in Arkansas, Oklahoma and Texas.
The deal was approved by the Board of Directors of JBS and is subject to approval from antitrust authorities in the United States.